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IMHO, his view of the quant life was distorted by being on the 'sell-side', where the trader and salespeople reign supreme. On the buy-side, quants are much mo
by mdda 15y ago
IMHO, his view of the quant life was distorted by being on the 'sell-side', where the trader and salespeople reign supreme. On the buy-side, quants are much more of the revenue generators.
That'll become increasingly obvious now that (soon) banks won't be allowed to prop-trade : there'll be a migration of a lot of the 'value add' to the buy-side (true hedge funds, mainly).
- rluhar 15y agoIndeed. Though it really depends on the asset class. On liquid asset classes (equities, FX, etc.) there has been more and more focus on algorithmic market making and order execution. High frequency trading outfits and having extremely latency / price sensitive counter parties (i.e. the buy side hedge funds) has forced the sell side desks to evolve to a more tech driven trading model. In FX, banks like Deutsche and Barclays make loads of money off algorithmic market making and order execution. Way off topic .. apologies.